The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-06-05
THE BUSINESS SITUATION.


The advantages Of Indianapolis are perlna-
nent its drawbacks and difficulties are tran
sient. The former will increase in number
and strength as time passes, while the latter
win diminish and finally disappear. The
city's advantages are fundamental, its embar-
easements are superficial. 1t is only ques-
ton of time when the former will prevail.
But we have to deal with the present, with
the situation as it is and with facts as they
are The factis, indianapolis is not wealthy
city. There is not much accumulated wealth
or capital here. The city has grown rapidly
and there have not been large opportunities
for amassing wealth or accommodating great
fortunes. Some of the holders of real estate
have made considerable II aey, but they
we're long time doing it, and that class of
men arc generally very conservative and hold
on very tight to what they have. Some of
the early settlers laid good foundation for
large fortunes in the last generation, but
most of them have been broken up. Our
business men and manufacturers have had
most of their means invested in business, and
it is only within recent years that they have
begun to accumulate. indianapolis may be a
wealthy city some time, and probably will be,
but it is not now, and the fact may as well
be recognized. 1t is no disgrace, and does
not detract at all from the natural advan-
tages or future prospects of the city. Its
business interests, mercantile and manu-
featuring, are in far better shape now than
ever before, more people making money,
and the prospect of. indianapolis becoming a
wealthy city were never so good as they are
at present. But it is not wealthy city now,
and the fact must be taken into account in
our business calculations. So must another
fact, namely, that most of our so-called
wealthy men exceedingly conservative.
They do not effervesce with public spirit,
nor lie awake nights devising projects to
promote the growth and prosperity of tho
city. They are honest, viglant and thrifty.
They do not let anything get away from
them, and the wealth which they own con-
troll is as safe in their hands as it could be
anywhere. Most of the accumulated wealth
of the city is in the hands of this
worthy class of citizens. The fact
that there is not a large amount
of accumulated wealth here and
that most of it is in very conservative
hands constitutes important element in
tho business situation. Among the immedi-
ate results are: First, that the growth and
development of the city are slower than its
natural advantages would waran t; and, Sec
ond, that we are more dependent than we
would otherwise be on foreign capital. The
city has grown. is growing and will continue
to grow, but not so fast as if there were more
wealth here, and in more enterprising hands.
Capital without enterprise is worth no more to
city than enterprise without capital. 1t is
combination of the two that makes things go.
indianapolis needs all it can getUof both, but
especially of capital. Few cities with its nat
ura advantages have less available capital for
pushing, developing and utilizing them. It
follows that we ought by every possible legiti-
mate means to encourage and invite the in
PRODUCTION of foreign capital. If the phrase
foreign capital" has an offensive sound to
some, then let us say outside capital, addi-
,tional capital, new capital. The city greatly
needs more capital, and should throw the
doors omen for it to come here, not welcoming
1t with bloody hands to a hospitable grave,
bat with open arms to active and profitable
employment. Let us organize and utilize
home capital to the utmost extent possible,
but let us at the same time invite and even
urge new capital to come here. We need it
badly.